Fuente: Business Week
Cotton fell to a fivemonth low on improved prospects for a bigger crop in the U.S., the world´s largest exporter. Orangejuice futures rose.As of July 18, 68 percent of the U.S. cotton crop was in good to excellent condition, compared with 45 percent a year earlier, the Department of Agriculture said after the close of trading yesterday. Temperatures in the U.S. were as much as 8 degrees Fahrenheit above average for the week ended July 19, High Plains Regional Climate Center data show."The cropprogress report yesterday showed that cotton likes the heat," said Tom Mikulski, a senior market strategist at LindWaldock, a broker in Chicago.Cotton for December delivery fell 0.61 cent, or 0.8 percent, to 73.01 cents a pound on ICE Futures U.S. in New York, after touching 72.96 cents, the lowest level for a mostactive contract since Feb. 10. The price has dropped 16 percent from a twoyear high on April 26.U.S. farmers will harvest 18.3 million bales this year, up 50 percent from a twodecade low of 12.2 million in 2009 and 9.6 percent more than forecast in June, the USDA said July 9.A rally in the dollar also eroded the appeal of some commodities as an alternative to the U.S. currency. Coffee, sugar and cocoa declined."The dollar is up fairly strong today, so we´re seeing a lot of other soft commodities fall as well," Mikulski said.In another ICE market, orangejuice futures for September delivery rose 0.6 cent, or 0.4 percent, to 1.4185 a pound in New York, the third straight gain.Editors: Steve Stroth, Daniel Enoch.

Fuente: Business Week – New York – New York –